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Mortgage Market Update
My Mortgage Company
Roxanne Lee
Thursday, September 3, 2026
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What can you do with your home equity? |
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Hi there. This week I want to talk about something that often gets overlooked: the equity you've already earned in your home, and how it might work for you.
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National Mortgage Rates · August 27, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Home Equity
What you can do with home equity
If you've been a homeowner for a few years, you've likely built up equity—and that opens some real doors. Whether you're thinking about a major home project, consolidating debt, or funding something important, a home equity loan or line of credit can be a smart way to tap into the value you've already built. The key is understanding your options: some borrowers prefer the predictability of a fixed loan, while others like the flexibility of a line of credit. Before you decide, it helps to talk through what makes sense for your situation and timeline. If you'd like to explore what your equity might qualify for, I'm here to walk you through it.
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Tip of the Week
Schedule a plumber to inspect older homes for slow leaks — water damage is expensive and often hidden until it's serious.
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Tips for Homeowners
Jumbo Loans: What They Are and How They Work
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1.
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A jumbo loan exceeds the conforming loan limit set by the FHFA — $766,550 in most areas for 2024, higher in designated high-cost markets. These loans can't be sold to Fannie Mae or Freddie Mac.
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2.
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Jumbo loans typically require stronger credit (often 700+), larger down payments (10–20%), and more cash reserves. Underwriting is more thorough and can take longer.
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3.
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Rates on jumbo loans are sometimes comparable to or even lower than conforming rates, depending on market conditions. Don't assume a jumbo loan means a worse deal — shop lenders.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Roxanne Lee
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